Blood Market 2023-2027: 5-Year (2017-2021) Historic Industry Size & Analysis of 15 Vendors and 7 Countries

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Nov 28, 2022, 10:00 ET

NEW YORK, Nov. 28, 2022 /PRNewswire/ -- The blood market size is estimated to increase by USD 2195.69 million from 2022 to 2027, with an accelerated CAGR of 5.31%, according to a recent market study by Technavio. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region.

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Technavio has announced its latest market research report titled Global Blood Market 2023-2027

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. The Bargaining Power of Buyers & Suppliers and the Threat of New Entrants, Rivalry, and Substitutes have also been analyzed and rated between LOW-HIGH to provide a holistic view of market favorability.

Find Technavio's Exclusive Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria

One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage.
Another key aspect is price sensitivity drivers (purchases are undifferentiated, purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
Furthermore, market adoption rates for all regions have been covered.

The blood market report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed below –

Agena Bioscience Inc.
AXO Science
BAG Health Care GmbH
Beckman Coulter Inc.
Becton Dickinson & Co.
Cardinal Health Inc.
CSL Ltd.
DIAGAST SAS
F. Hoffmann La Roche Ltd.
Grifols SA
Haemonetics Corp.
Immucor Inc.
Medtronic Plc
Nipro Medical Corp.
Quest Diagnostics Inc.

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Chart & Data Table on 5-Year Historic (2017-2021) Market Size, Comparative Analysis of Segments, and Y-O-Y Growth of Blood Market

The market is segmented by product (whole blood collection and processing, blood screening products, blood typing products, and source plasma collection) and end-user (hospitals, ambulatory surgical centers (ASCs), and others).
Based on the product, the whole blood collection and processing segment became the market's largest contributor in 2022.
The growth of this segment is primarily attributed to the increasing number of surgical procedures, blood transfusions, and the prevalence of various diseases.
The whole blood collected is stored in blood bags made of bio-compatible, high-molecular-weight PVC, compounded with appropriate additives, which can be used for reliable collection, separation, storage, and transport of blood.
These bags help extend the storage of red blood cells and lower the viscosity of packed red blood cells for easy transfusion. Such benefits associated with the use of blood collection bags are also contributing to the segment's growth.

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The rising number of hospitals and blood banks is Notably Driving the Blood Market Growth

The growth in population, coupled with the rising incidence of chronic diseases and medical emergencies, has fueled the expansion of hospitals and patient care centers globally. The growing patient pool and increasing prevalence of communicable diseases have increased the demand for large quantities of whole blood and blood components among healthcare providers. The growing demand for blood is increasing the hospitals' dependency on both in-house and independent blood banks. Also, an increasing number of blood banks has expanded the availability of storage facilities for blood. All these factors contribute to the growth of the global blood market.

Chart & Data Table on Historical Market Size (2017-2021, Historic Industry Size & Analysis of 15 Vendors and 7 Countries

The market is segmented by region (North America, Europe, Asia, and the Rest of World). An analysis of key leading countries has been included.

North America, which holds the major share of the market, is estimated to contribute 40% to the growth of the global market during the forecast period. Growth will be driven by the rising number of road accidents and sports injuries, increasing surgical procedures, the rising number of blood donors, and the growing prevalence of different types of cancer. The increasing number of hospitals, especially in the US, will further aid in the growth of the blood market in North America during the forecast period.
In 2020, the COVID-19 pandemic negatively impacted most North American countries, which resulted in the temporary closure of various industries. As the pandemic spread across the region, the supply of blood in blood banks was impacted in terms of both supply and demand. However, in April 2020, the US FDA issued guidelines for immediate implementation to address the urgent need for blood and blood components. This increased blood donation drives, which fostered the growth of the blood market in the region.

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Related Reports -

Venous Blood Collection Market by Application and Geography - Forecast and Analysis 2022-2026 – size is estimated to increase by USD 868.11 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.73%, according to the recent market study by Technavio.., this report extensively covers market segmentation by application (vein blood gas sampling and intraoperative blood salvage) and geography (North America, Asia, Europe, and Rest of World (ROW)).
Heparin Market by Product, Route of Administration, and Geography - Forecast and Analysis 2023-2027 – size is estimated to increase by USD 3,009.44 million from 2022 to 2027, with an accelerated CAGR of 6.94%, according to the recent market study by Technavio. The increasing prevalence of blood clotting disorders is one of the key factors driving the market growth.

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What are the key data covered in this blood market report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the blood market between 2023 and 2027
Precise estimation of the size of the blood market size and its contribution of the market in focus to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the blood market industry across North America, Asia, Europe, and the Rest of the World (ROW)
Thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of blood market vendors

Blood Market Scope
Report Coverage	Details
Page number	163
Base year	2022
Historical year	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 5.31%
Market growth 2023-2027	USD 2195.69 million
Market structure	Fragmented
YoY growth (%)	4.13
Regional analysis	North America, Asia, Europe, and ROW
Performing market contribution	North America at 40%
Key consumer countries	US, Canada, Germany, UK, and China
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	Agena Bioscience Inc., AXO Science, BAG Health Care GmbH, Beckman Coulter Inc., Becton Dickinson & Co., Bio-Rad Laboratories Inc., Cardinal Health Inc., CSL Ltd., DIAGAST SAS, F. Hoffmann La Roche Ltd., Grifols SA, Haemonetics Corp., Immucor Inc., Medtronic Plc, Nipro Medical Corp.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents:

1 Executive Summary

1.1 Market overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 13: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Five Forces Analysis

4.1 Five forces summary

Exhibit 18: Five forces analysis - Comparison between 2022 and 2027

4.2 Bargaining power of buyers

Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

4.3 Bargaining power of suppliers

Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

4.4 Threat of new entrants

Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027

4.5 Threat of substitutes

Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027

4.6 Threat of rivalry

Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027

4.7 Market condition

Exhibit 24: Chart on Market condition - Five forces 2022 and 2027

5 Market Segmentation by Product

5.1 Market segments

Exhibit 25: Chart on Product - Market share 2022-2027 (%)
Exhibit 26: Data Table on Product - Market share 2022-2027 (%)

5.2 Comparison by Product

Exhibit 27: Chart on Comparison by Product
Exhibit 28: Data Table on Comparison by Product

5.3 Whole blood collection and processing - Market size and forecast 2022-2027

Exhibit 29: Chart on Whole blood collection and processing - Market size and forecast 2022-2027 ($ million)
Exhibit 30: Data Table on Whole blood collection and processing - Market size and forecast 2022-2027 ($ million)
Exhibit 31: Chart on Whole blood collection and processing - Year-over-year growth 2022-2027 (%)
Exhibit 32: Data Table on Whole blood collection and processing - Year-over-year growth 2022-2027 (%)

5.4 Blood screening products - Market size and forecast 2022-2027

Exhibit 33: Chart on Blood screening products - Market size and forecast 2022-2027 ($ million)
Exhibit 34: Data Table on Blood screening products - Market size and forecast 2022-2027 ($ million)
Exhibit 35: Chart on Blood screening products - Year-over-year growth 2022-2027 (%)
Exhibit 36: Data Table on Blood screening products - Year-over-year growth 2022-2027 (%)

5.5 Blood typing products - Market size and forecast 2022-2027

Exhibit 37: Chart on Blood typing products - Market size and forecast 2022-2027 ($ million)
Exhibit 38: Data Table on Blood typing products - Market size and forecast 2022-2027 ($ million)
Exhibit 39: Chart on Blood typing products - Year-over-year growth 2022-2027 (%)
Exhibit 40: Data Table on Blood typing products - Year-over-year growth 2022-2027 (%)

5.6 Source plasma collection - Market size and forecast 2022-2027

Exhibit 41: Chart on Source plasma collection - Market size and forecast 2022-2027 ($ million)
Exhibit 42: Data Table on Source plasma collection - Market size and forecast 2022-2027 ($ million)
Exhibit 43: Chart on Source plasma collection - Year-over-year growth 2022-2027 (%)
Exhibit 44: Data Table on Source plasma collection - Year-over-year growth 2022-2027 (%)

5.7 Market opportunity by Product

Exhibit 45: Market opportunity by Product ($ million)

6 Market Segmentation by End-user

6.1 Market segments

Exhibit 46: Chart on End-user - Market share 2022-2027 (%)
Exhibit 47: Data Table on End-user - Market share 2022-2027 (%)

6.2 Comparison by End-user

Exhibit 48: Chart on Comparison by End-user
Exhibit 49: Data Table on Comparison by End-user

6.3 Hospitals - Market size and forecast 2022-2027

Exhibit 50: Chart on Hospitals - Market size and forecast 2022-2027 ($ million)
Exhibit 51: Data Table on Hospitals - Market size and forecast 2022-2027 ($ million)
Exhibit 52: Chart on Hospitals - Year-over-year growth 2022-2027 (%)
Exhibit 53: Data Table on Hospitals - Year-over-year growth 2022-2027 (%)

6.4 Ambulatory surgical centers (ASCs) - Market size and forecast 2022-2027

Exhibit 54: Chart on Ambulatory surgical centers (ASCs) - Market size and forecast 2022-2027 ($ million)
Exhibit 55: Data Table on Ambulatory surgical centers (ASCs) - Market size and forecast 2022-2027 ($ million)
Exhibit 56: Chart on Ambulatory surgical centers (ASCs) - Year-over-year growth 2022-2027 (%)
Exhibit 57: Data Table on Ambulatory surgical centers (ASCs) - Year-over-year growth 2022-2027 (%)

6.5 Others - Market size and forecast 2022-2027

Exhibit 58: Chart on Others - Market size and forecast 2022-2027 ($ million)
Exhibit 59: Data Table on Others - Market size and forecast 2022-2027 ($ million)
Exhibit 60: Chart on Others - Year-over-year growth 2022-2027 (%)
Exhibit 61: Data Table on Others - Year-over-year growth 2022-2027 (%)

6.6 Market opportunity by End-user

Exhibit 62: Market opportunity by End-user ($ million)

7 Customer Landscape

7.1 Customer landscape overview

Exhibit 63: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

8.1 Geographic segmentation

Exhibit 64: Chart on Market share by geography 2022-2027 (%)
Exhibit 65: Data Table on Market share by geography 2022-2027 (%)

8.2 Geographic comparison

Exhibit 66: Chart on Geographic comparison
Exhibit 67: Data Table on Geographic comparison

8.3 North America - Market size and forecast 2022-2027

Exhibit 68: Chart on North America - Market size and forecast 2022-2027 ($ million)
Exhibit 69: Data Table on North America - Market size and forecast 2022-2027 ($ million)
Exhibit 70: Chart on North America - Year-over-year growth 2022-2027 (%)
Exhibit 71: Data Table on North America - Year-over-year growth 2022-2027 (%)

8.4 Asia - Market size and forecast 2022-2027

Exhibit 72: Chart on Asia - Market size and forecast 2022-2027 ($ million)
Exhibit 73: Data Table on Asia - Market size and forecast 2022-2027 ($ million)
Exhibit 74: Chart on Asia - Year-over-year growth 2022-2027 (%)
Exhibit 75: Data Table on Asia - Year-over-year growth 2022-2027 (%)

8.5 Europe - Market size and forecast 2022-2027

Exhibit 76: Chart on Europe - Market size and forecast 2022-2027 ($ million)
Exhibit 77: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
Exhibit 78: Chart on Europe - Year-over-year growth 2022-2027 (%)
Exhibit 79: Data Table on Europe - Year-over-year growth 2022-2027 (%)

8.6 Rest of World (ROW) - Market size and forecast 2022-2027

Exhibit 80: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
Exhibit 81: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
Exhibit 82: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
Exhibit 83: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)

8.7 US - Market size and forecast 2022-2027

Exhibit 84: Chart on US - Market size and forecast 2022-2027 ($ million)
Exhibit 85: Data Table on US - Market size and forecast 2022-2027 ($ million)
Exhibit 86: Chart on US - Year-over-year growth 2022-2027 (%)
Exhibit 87: Data Table on US - Year-over-year growth 2022-2027 (%)

8.8 China - Market size and forecast 2022-2027

Exhibit 88: Chart on China - Market size and forecast 2022-2027 ($ million)
Exhibit 89: Data Table on China - Market size and forecast 2022-2027 ($ million)
Exhibit 90: Chart on China - Year-over-year growth 2022-2027 (%)
Exhibit 91: Data Table on China - Year-over-year growth 2022-2027 (%)

8.9 Germany - Market size and forecast 2022-2027

Exhibit 92: Chart on Germany - Market size and forecast 2022-2027 ($ million)
Exhibit 93: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
Exhibit 94: Chart on Germany - Year-over-year growth 2022-2027 (%)
Exhibit 95: Data Table on Germany - Year-over-year growth 2022-2027 (%)

8.10 UK - Market size and forecast 2022-2027

Exhibit 96: Chart on UK - Market size and forecast 2022-2027 ($ million)
Exhibit 97: Data Table on UK - Market size and forecast 2022-2027 ($ million)
Exhibit 98: Chart on UK - Year-over-year growth 2022-2027 (%)
Exhibit 99: Data Table on UK - Year-over-year growth 2022-2027 (%)

8.11 Canada - Market size and forecast 2022-2027

Exhibit 100: Chart on Canada - Market size and forecast 2022-2027 ($ million)
Exhibit 101: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
Exhibit 102: Chart on Canada - Year-over-year growth 2022-2027 (%)
Exhibit 103: Data Table on Canada - Year-over-year growth 2022-2027 (%)

8.12 Market opportunity by geography

Exhibit 104: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

9.1 Market drivers

9.2 Market challenges

9.3 Impact of drivers and challenges

Exhibit 105: Impact of drivers and challenges in 2022 and 2027

9.4 Market trends

10 Vendor Landscape

10.1 Overview

10.2 Vendor landscape

Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

10.3 Landscape disruption

Exhibit 107: Overview on factors of disruption

10.4 Industry risks

Exhibit 108: Impact of key risks on business

11 Vendor Analysis

11.1 Vendors covered

Exhibit 109: Vendors covered

11.2 Market positioning of vendors

Exhibit 110: Matrix on vendor position and classification

11.3 Abbott Laboratories

Exhibit 111: Abbott Laboratories - Overview
Exhibit 112: Abbott Laboratories - Business segments
Exhibit 113: Abbott Laboratories - Key news
Exhibit 114: Abbott Laboratories - Key offerings
Exhibit 115: Abbott Laboratories - Segment focus

11.4 Agena Bioscience Inc.

Exhibit 116: Agena Bioscience Inc. - Overview
Exhibit 117: Agena Bioscience Inc. - Product / Service
Exhibit 118: Agena Bioscience Inc. - Key offerings

11.5 AXO Science

Exhibit 119: AXO Science - Overview
Exhibit 120: AXO Science - Product / Service
Exhibit 121: AXO Science - Key offerings

11.6 Becton Dickinson and Co.

Exhibit 122: Becton Dickinson and Co. - Overview
Exhibit 123: Becton Dickinson and Co. - Business segments
Exhibit 124: Becton Dickinson and Co. - Key news
Exhibit 125: Becton Dickinson and Co. - Key offerings
Exhibit 126: Becton Dickinson and Co. - Segment focus

11.7 Bio Rad Laboratories Inc.

Exhibit 127: Bio Rad Laboratories Inc. - Overview
Exhibit 128: Bio Rad Laboratories Inc. - Business segments
Exhibit 129: Bio Rad Laboratories Inc. - Key news
Exhibit 130: Bio Rad Laboratories Inc. - Key offerings
Exhibit 131: Bio Rad Laboratories Inc. - Segment focus

11.8 Cardinal Health Inc.

Exhibit 132: Cardinal Health Inc. - Overview
Exhibit 133: Cardinal Health Inc. - Business segments
Exhibit 134: Cardinal Health Inc. - Key news
Exhibit 135: Cardinal Health Inc. - Key offerings
Exhibit 136: Cardinal Health Inc. - Segment focus

11.9 CSL Ltd.

Exhibit 137: CSL Ltd. - Overview
Exhibit 138: CSL Ltd. - Business segments
Exhibit 139: CSL Ltd. - Key news
Exhibit 140: CSL Ltd. - Key offerings
Exhibit 141: CSL Ltd. - Segment focus

11.10 F. Hoffmann La Roche Ltd.

Exhibit 142: F. Hoffmann La Roche Ltd. - Overview
Exhibit 143: F. Hoffmann La Roche Ltd. - Business segments
Exhibit 144: F. Hoffmann La Roche Ltd. - Key news
Exhibit 145: F. Hoffmann La Roche Ltd. - Key offerings
Exhibit 146: F. Hoffmann La Roche Ltd. - Segment focus

11.11 Grifols SA

Exhibit 147: Grifols SA - Overview
Exhibit 148: Grifols SA - Business segments
Exhibit 149: Grifols SA - Key offerings
Exhibit 150: Grifols SA - Segment focus

11.12 Haemonetics Corp.

Exhibit 151: Haemonetics Corp. - Overview
Exhibit 152: Haemonetics Corp. - Business segments
Exhibit 153: Haemonetics Corp. - Key offerings
Exhibit 154: Haemonetics Corp. - Segment focus

11.13 Immucor Inc.

Exhibit 155: Immucor Inc. - Overview
Exhibit 156: Immucor Inc. - Product / Service
Exhibit 157: Immucor Inc. - Key offerings

11.14 Medtronic Plc

Exhibit 158: Medtronic Plc - Overview
Exhibit 159: Medtronic Plc - Business segments
Exhibit 160: Medtronic Plc - Key news
Exhibit 161: Medtronic Plc - Key offerings
Exhibit 162: Medtronic Plc - Segment focus

11.15 Nipro Medical Corp.

Exhibit 163: Nipro Medical Corp. - Overview
Exhibit 164: Nipro Medical Corp. - Product / Service
Exhibit 165: Nipro Medical Corp. - Key offerings

11.16 Rapid Labs Ltd.

Exhibit 166: Rapid Labs Ltd. - Overview
Exhibit 167: Rapid Labs Ltd. - Product / Service
Exhibit 168: Rapid Labs Ltd. - Key offerings

11.17 Terumo Corp.

Exhibit 169: Terumo Corp. - Overview
Exhibit 170: Terumo Corp. - Business segments
Exhibit 171: Terumo Corp. - Key news
Exhibit 172: Terumo Corp. - Key offerings
Exhibit 173: Terumo Corp. - Segment focus

12 Appendix

12.1 Scope of the report

12.2 Inclusions and exclusions checklist

Exhibit 174: Inclusions checklist
Exhibit 175: Exclusions checklist

12.3 Currency conversion rates for US$

Exhibit 176: Currency conversion rates for US$

12.4 Research methodology

Exhibit 177: Research methodology
Exhibit 178: Validation techniques employed for market sizing
Exhibit 179: Information sources

12.5 List of abbreviations

Exhibit 180: List of abbreviations

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